I know a lot of people that would not take iPad 2 insurance even it was offered free. They do trust third party vendors and would rather pay for an extended factory warranty. Here are a few differences that you may not know that could sway your decision one way or the other.
An Extended Warranty Is Not Insurance
At a quick glance, the extended warranty and insurance appear to be the same thing. Do not be fooled though. They are similar and may overlap a little, but they are definitely different beasts.
The factory extended warranty mostly covers manufacturing defects. If your iPad stops working or overheats, this is the type of thing a warranty will cover. If you read the terms and conditions, they also will cover SOME physical or liquid damage but you are required to pay a deductible in that case.
The main perk to the extended warranty is the software support by phone. Third party vendors just cannot touch this type of offering. To me, this is the biggest advantage they have over third party iPad 2 insurance.
Does iPad Insurance Have Any Advantage
On the flip side, third party insurance will provide coverage that a warranty will not such as against theft or loss. Going back to the terms and conditions document, the factory warranty specifically states that they do not cover theft or loss of the device. Basically if you can't send them back something to work on, they won't cover it.
Another advantage of insurance is coverage while traveling. The factory warranty is only valid in the country in which it was purchased. If you plan to travel for business or pleasure and take your iPad with you, you should get some kind of third party insurance to cover your device.
How About Cost
When you compare the cost of the two plans, in most cases I think you will find they are priced very similarly. The extended warranty is only offered as a two year commitment though whereas insurance can be paid for on a month to month basis. Again, it goes back to your individual needs as to which would be better for you.
If you plan to keep your device for a long time and want to make sure you won't get stuck buying a new one due to a defect, I would go with the extended factory warranty. You will get protection from workmanship problems, phone support for your software problems, and even some protection against physical or liquid damage to your device.
If you plan to travel, iPad 2 insurance is really your best option. You don't want something to happen and find out that because you weren't at home that you are now stuck with a broken device and have to buy a new one. The plans are relatively inexpensive and can be purchased on a month to month basis.
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